I did think that Newfield Exploration (NYSE:NFX) was undervalued by the Street back in mid-Feburary, but more on the order of 40% and not the nearly 75% move the stock has delivered since then. Selling the Granite Wash assets for nearly $600 million was a nice development and the company has posted good results from recent wells drilled in Oklahoma and the Uinta. Looking ahead, the company is prioritizing the de-risking of the Oklahoma SCOOP and STACK plays and looking to sell its Chinese assets. I may yet be underestimating the potential here, but a 75% move in six and a half months seems like plenty for now.
The Restructure Is Close To Complete
Newfield wanted to remake...
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